"Make in India" Drove FDI up by 56% - Manufacturing Sector Inflows up by 45%

[anant_s]

Even Congress ruled states opposed GST draft by PC when it was bought first owing to lack of clarity on revenue sharing but now when finally everyone is on board they are playing delaying tactics

The states feared loss of revenue, but considering that states will be compensated, should allow for passage of bill. Unfortunately (as it happens a lot of times), it has become a political issue and implementation is getting delayed. I'm in a bit of surprise here (wrt Congress's opposition here) mainly because it doesn't differ much from UPA version of the bill and most Congress ruled states are in favor.
I do hope for economy, this bill getting cleared as it will not just be beneficial to industry but also benefit common consumers like us. Complicated tax structure takes out more money from our pockets than anything else.

 

[Chanakya's_Chant]

Mauritius？

It's called the "Mauritius Route" - a channel used by foreign investors to invest in India.
Mauritius route - Wikipedia, the free encyclopedia

Sir aap tax tou deteiii nahin tou kahan seh aaap ka mulk taraqiii kareiii ?

Remittances are more crucial - Annual foreign remittances to India ($70 Billion) are almost double the entire FDI inflows in India.

 

[anant_s]

Jaitley himself said obstructing parliamentary functioning is a valid parliamentary tactic.

I remember during UPA 2 days Pranab Da actually fearing for this eventuality (that creating chaos in parliament becoming an accepted practice). While BJP was justified in its time to call for adjournment motions during discussions, now the thing has become so rampant (&acceptable), that Parliament sessions have become more chaotic than Arnab's Panel "discussions".
Not a good sign for our democratic system considering the huge amount of money spent each day on its running.

 

[Bang Galore]

I remember during UPA 2 days Pranab Da actually fearing for this eventuality (that creating chaos in parliament becoming an accepted practice). While BJP was justified in its time to call for adjournment motions during discussions, now the thing has become so rampant (&acceptable), that Parliament sessions have become more chaotic than Arnab's Panel "discussions".
Not a good sign for our democratic system considering the huge amount of money spent each day on its running.

The BJP was no more justified with that tactic than the opposition is now.

 

[anant_s]

Land bill needs to be passed otherwise all the promise of jobs will fall flat on BJP...

something tells us that Land Reform Amendment bill will get passed, even if it requires a joint parliamentary session. The only trouble i can sense is how to control the political fallout of this. With Bihar elections looming large, perhaps NDA might be willing to play a waiting game here. However if it doesn't get cleared sometime this year, chances are it will get weaker.

The BJP was no more justified with that tactic than the opposition is now.

Yes the point is an unacceptable practice has been created and now almost everyday members of Parliament are resorting to this. Its time both parties (BJP and Congress) realize that irrespective of who is in power, this sort of unruly behavior not only robs of precious session business time but also degrades the sanctity of institute like Parliament.

 

[Echo_419]

GST alone would boost the Indian GDP by 1% to 2% - It has to be implemented at all cost by the next financial year - The government can take on the opposition in LS but not in RS - hope it isn't delayed.

Speaker rejects Opposition demand to send GST Bill to Parliamentary panel - The Hindu

The reduction of corporate tax from 30 per cent to 25 per cent in the next 4 years will make India more competitive in the global market.

Budget 2015: India Cuts Corporate Tax Rate to Win Back Investors – NDTV Profit

After GST next should be land bill

Mauritius？

The burn is real

 

[anant_s]

After GST next should be land bill

Yes and government is trying to clear both of them in this session itself.

 

[deckingraj]

Uniformity is neither necessary nor real. Karnataka & West Bengal don't have the same policies on industrialization, investors vote with their feet.

Actually it is especially on the key items. That's why there is a thing called center. States can bring in exceptions and even then those exceptions are called out(or should) well in advance..

If the labour rules or land acquisition rules are more beneficial in an state, that is the state that will garner the investment.

Once again you are looking at states from the perspective of independent entity. Every single industry won't/can't come in a particular state. Location, geography, natural riches etc all play a part...Then there are projects which needs to move in between states...that's why you need a universal bill and the extent of exceptions are laid out clearly.

Except for some national infrastructure projects, pretty much all use is local.

A gas pipeline from Kochi to Bangalore involves Kerala, Tamil Nadu and Karnataka...now if you wanna call it infra project i am fine with it, however this pipeline is stuck in TN due to land acquisitions and is robbing netizens lot of $$$...Irrigation projects are also of same nature..there are many examples that i can quote...that's why once again will say a universal framework is must....Arun shourie must be a wise men however this particular advice of his is making little sense...

While both methods work, the argument is about what is preferable at this point in time. On labour the BJP is following this route, it could have done similarly for land too.

To be honest this is comparing apples and oranges...for example states are free to levy additional sales tax on petro products(GST will save us hopefully there) however now we can't use that argument for LAB

something tells us that Land Reform Amendment bill will get passed, even if it requires a joint parliamentary session. The only trouble i can sense is how to control the political fallout of this. With Bihar elections looming large, perhaps NDA might be willing to play a waiting game here. However if it doesn't get cleared sometime this year, chances are it will get weaker.

Bihar election is 1 year away...Public memory is way too short then that...also Modi has come too far on this....

 

[Chanakya's_Chant]

After GST next should be land bill



The burn is real

Land bill will be passed sooner or later by the Parliament - though there isn't much trouble in it being delayed - the government will bring another land ordinance in case the parliamentary session runs out to get the job done as always!

'Fibbing'. Not one new legislation on manufacturing has been passed in one year except 'Make in India Ad', FAct is that when the economy stabilized after political turmoil was completed a natural increase in FDI happened which these clowns are trying to pass off as 'Make in India'. And this 40% 'jump' is also BS. During the last 1.5 years of UPA 2 the FDI fell because of political paralysis. So if it goes down from 100 to 60 and then picks up to 84, it is still a 'jump' of 40%.

@Skull and Bones The markets don't stand BS very long

Sensex Slumps Over 600 Points to Four-Month Low - NDTVProfit.com


The recent falls have come amid continued worries about selling by overseas investors, who have offloaded shares worth a net of more than $1.7 billion in the last 13 sessions excluding the amount raised from Daiichi Sankyo's stake sale in Sun Pharmaceutical Industries.

The recent decline may just be a correction following a strong rally in the previous months - the ongoing tactical correction is a healthy consolidation and investors waiting on the sidelines should use this as an opportunity to realign their portfolio.

Meanwhile the equity markets surged almost 500 points yesterday only to post its biggest daily gain in a month.

Excel Funds Management Inc. | Indian Equity Market Surges

 

[anant_s]

Bihar election is 1 year away...Public memory is way too short then that...also Modi has come too far on this...

that's the closest election in a large state in near future (with Bengal and UP next in line) and therefore this session (& perhaps the monsoon session later) are the ideal window of opportunity for passage of bills. Infact we can see from opposition's demand of referring the key bills to Select committees as a delaying tactic and pushing these bills as close to election time as possible. We know any government however strong has a very weak appetite for taking risks near election time as they invariably turn into controversial issues. The recent rally by Congress and AAP against Land Bill is one such indicator.

Haryana, Punjab, Rajasthan, Gujarat, Maharashtra....... a corridor right there. Would have made other states to have a rethink rather than do what they are doing now, playing party politics....

Are you referring to Dedicated Freight corridor (& adjoining industrial belt proposed for development alongside) here?

 

[MarkovChain]

@Skull and Bones The markets don't stand BS very long

Sensex Slumps Over 600 Points to Four-Month Low - NDTVProfit.com


The recent falls have come amid continued worries about selling by overseas investors, who have offloaded shares worth a net of more than $1.7 billion in the last 13 sessions excluding the amount raised from Daiichi Sankyo's stake sale in Sun Pharmaceutical Industries.

Typical AAP style logic of confusing FII with FDI.

 

[Guynextdoor2]

that's the closest election in a large state in near future (with Bengal and UP next in line) and therefore this session (& perhaps the monsoon session later) are the ideal window of opportunity for passage of bills. Infact we can see from opposition's demand of referring the key bills to Select committees as a delaying tactic and pushing these bills as close to election time as possible. We know any government however strong has a very weak appetite for taking risks near election time as they invariably turn into controversial issues. The recent rally by Congress and AAP against Land Bill is one such indicator.


Are you referring to Dedicated Freight corridor (& adjoining industrial belt proposed for development alongside) here?
View attachment 218939

More than just 'risk'- TMC is surging in Bengal and BJP will be thrashed there. BJP is going to be thrashed in Punjab, AAP will probably form the government there. The juggernaut has stopped in its tracks.

 

[IndoCarib]

Modi's first year one of the best for India in terms of economic reforms: US expert - Firstpost

 

[magudi]

View attachment 218933

The states feared loss of revenue, but considering that states will be compensated, should allow for passage of bill. Unfortunately (as it happens a lot of times), it has become a political issue and implementation is getting delayed. I'm in a bit of surprise here (wrt Congress's opposition here) mainly because it doesn't differ much from UPA version of the bill and most Congress ruled states are in favor.
I do hope for economy, this bill getting cleared as it will not just be beneficial to industry but also benefit common consumers like us. Complicated tax structure takes out more money from our pockets than anything else.

True ,the Congress's demand of referring it to standing committee again where it spend almost 3 years makes no sense . Infact bringing GST was in Cong 2014 manifesto and PC has been championing for it since 2010 but fact remains PC was not able to build consensus across states even the congress ruled ones which is happening now.

 

[anant_s]

True ,the Congress's demand of referring it to standing committee again where it spend almost 3 years makes no sense . Infact bringing GST was in Cong 2014 manifesto and PC has been championing for it since 2010 but fact remains PC was not able to build consensus across states even the congress ruled ones which is happening now.

A large part of Policy paralysis perceived during UPA 2 was owing to lack of Congress's inability to take opposition in confidence and failure of floor managers. After Pranab Da went there was no one to have that kind of rapport with opposition and that meant total breakdown of communication.
had that not been the case, PC would have the credit of getting the bill cleared and more importantly a big economic reform already implemented by now.

More than just 'risk'- TMC is surging in Bengal and BJP will be thrashed there. BJP is going to be thrashed in Punjab, AAP will probably form the government there. The juggernaut has stopped in its tracks.

Recent local body election results in Bengal should definitely worry Amit Shah.
as for Punjab, Akaali Dals mismanagement and rampant drug addiction problem (allegedly supported by elements of government) has led to strong anti incumbency and while i'm not sure of AAP's chances, doesn't look like the ruling alliance will garner a majority as it did last time around.